Beyond Meat Cuts Yearly Forecast As Sales Continue to Fall in Q3
After weeks of stock uncertainty, Beyond Meat has posted a 13% revenue decline in Q3 2025 and has adjusted its expectations for the next quarter, too.
In a rollercoaster Q3, Beyond Meat saw its sales shrink despite exceeding expectations, with the plant-based giant now cutting its forecast for the upcoming year.
The Californian company recorded revenues of $70M, down by 13.3% from the corresponding period in 2024, but slightly above analysts’ predictions of $69M, with company CEO Ethan Brown attributing it to “category headwinds and an accompanying softer top-line continue”.
It’s the third consecutive quarter of declining revenue for Beyond Meat, and comes amid volatile shifts in its stock price due to a debt restructuring deal, a meme stock frenzy, and rumours of bankruptcy, as well as expanded distribution in retailers like Walmart and Erewhon.
As losses widen, Beyond Meat blames weak category demand and China suspension
The Beyond Burger maker’s loss from operations swelled to $112M, compared to $31M in Q3 2024. This was thanks to large non-cash impairment charges related to its long-lived assets, as well as smaller expenses from legal fees, a lease termination, and the closure of its China operations. Overall, the company’s net loss was at $111M, a 316% increase from the year-ago period.
Meanwhile, Beyond Meat’s gross profit reached $7M in Q3 2025, nearly half of its value in the July to September period in 2024. Its gross margin also narrowed from 18% in Q3 last year to 10% in 2025. These included $1.7M in expenses related to its China withdrawal.
Its decrease in revenue was primarily driven by a 10% decline in product volumes, which in turn was a result of “weak category demand”, reduced retail distribution in the US, and lower sales of burger products to international quick-service restaurant consumers.
And Beyond Meat’s 3.5% drop in net revenue per lb was primarily a result of higher trade discounts, changes in product sales mix and price decreases of certain products, partially offset by favourable changes in foreign currency exchange rates.
These challenges have prompted the firm to revise its sales forecast for Q4, which is now expected to be between $60M and $65M, compared to analysts’ estimates of $70M.
US sales a major concern for Beyond Meat
The US remains its biggest market by far and the drop-off in sales has been alarming in this quarter. In the retail channel, Beyond Meat’s year-over-year revenues slimmed by over 18% in Q3 2025, totalling just $28M, thanks to weakening demand and distribution.
Things were even worse in the foodservice segment, where sales fell by 27% to just $10.5M, with the company citing a decrease in volumes due to low demand and the lapping of sales of its vegan chicken to a QSR customer in the year-ago period.
Internationally, retail sales decreased by nearly 5% to reach $16M, thanks largely to reduced sales of its burger, dinner sausage and chicken products. In the foodservice channel outside the US, Beyond Meat’s revenues were up by 2% to 15M, with the company citing higher sales of its chicken products to a QSR customer, which were partially offset by reduced sales of the Beyond Burger to others.
So far this year, Beyond Meat’s sales are down by 14% compared to the first nine months of 2024. And if its sales forecast for Q4 comes true, it’s set to record a 14.5-16% drop in full-year revenue for 2025.
Beyond Meat CEO strikes optimistic tone about company’s future
“As we approach the end of 2025, we’ve achieved three important building blocks for our broader transformation efforts,” said Beyond Meat co-founder and CEO Ethan Brown.
“These are significantly reducing our overall leverage in connection with the previously announced exchange of substantially all of our 2027 convertible notes; meaningfully extending our debt maturity; and finally, adding substantial liquidity to our balance sheet.”
He added that the company was taking “equally strong measures” to accelerate its path to sustainable operations, including pursuing further and sizeable cost reductions, gross margin expansion investments, and targeted strategic growth initiatives.
“Though category headwinds and an accompanying softer top-line continue to weigh on and reverberate throughout our current performance, including our Q3 results, we are closing out the year with a much improved balance sheet, important transformation spadework underway, and genuine optimism and excitement regarding our future,” he said.